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Marketing 4000 Test 3

Terms in this set (151)

· TED talk:
· Awareness of problems but trouble dealing with them
· Business is seen as the problem now
· Where are the solutions: NGO (social organizations)
· The problem of scale - we can't scale (we can't make large scale impact on these problems because we don't have the resources - not enough money to deal with these - scarcity of resources is only growing
· Where are the resources in society - the ones we need to deal with these challenges
· These resources are in business - business creates wealth when it meets needs at a profit (taxes, incomes, charitable donations)
· Other institutions can utilize resources that businesses create
· Business generates resources when it makes a profit (price and cost takes to produce)
· Take profit and give to social problems (businesses being more responsible and givning more)
· Conventional wisdom - business makes a profit by making an issue 9poluttion) - too expensive to have a safe working environment
· New thinking: business profits by solving social problems (reducing pollution and emissions is generating profit and saving money - having a safer work environment saves money by less work accidents
· Health employees is something businesses should treasure so they don't have to be absent
· Tap into the power of business
· Creating shared value: addressing a social issure with a business model
· -capitalism (as it was ultimetly meant to be)
· Shared value = social value and economic value
· Levels of shared value:
· Meeting
· Solutions: change how businesses
· Enable shared value in business
· Change how business sees itself and change how others see business
· Break down divide/ tension - we can have solutions
· Emerging perspective on how businesses can play a role in society (in addition to the toher two perspectives we have discussed)